Analysts Downgrade Ford And GM
Market analysts UBS Warburg have reduced their ratings on both Ford and GM. Ford moves to “Reduce2” from “Neutral 2” and GM goes from “Buy 2” to “Neutral 2”. The move comes despite a good 1Q performance from Ford, but UBSW thinks that the company will still struggle versus the competition. On the other hand, a stronger Ford means the price war will last longer, adversely affecting GM, hence their downgrade.